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Feb 6, 2013
02/13
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. >>> when thele toings who are responsible for solving our debt deficit issues are the same ones against cost-cutting at the post office, it means we're in pretty deep trouble. we'll talk about it next. stay with us. ak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed. >>> and final
. >>> when thele toings who are responsible for solving our debt deficit issues are the same ones against cost-cutting at the post office, it means we're in pretty deep trouble. we'll talk about it next. stay with us. ak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell...
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Feb 6, 2013
02/13
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WMAR
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it shows the city will accumulate a $745 million budget deficit over the next decade pause of a growing gap -- because of a dproaing gap in how much the city earns and how much it spends. that deficit would be even bigger at $2 billion if you factor in what the city needs for infrastructure repairs and retiree healthcare benefits. according to the report, if the city does not enact major reforms it, will go bankrupt. the 10-year forecast was commissioned by the city from an outside firm in philly. mayor rawlings blake is expected to propose financial reforms next week based on that report. linda stow, abc 2 news. >>> it was a party bigger than anything we have ever seen. more than 200,000 people gathered to celebrate the super bowl champions, the baltimore ravens. you better believe, though, a big story was traffic congestion. it caused huge delays. in fact, the players, the coaches, the lombardi trophy, that's why they were late to start the parade in the first place. they finally made it to the start of city hall where things kicked off and with the help of the maryland national guard
it shows the city will accumulate a $745 million budget deficit over the next decade pause of a growing gap -- because of a dproaing gap in how much the city earns and how much it spends. that deficit would be even bigger at $2 billion if you factor in what the city needs for infrastructure repairs and retiree healthcare benefits. according to the report, if the city does not enact major reforms it, will go bankrupt. the 10-year forecast was commissioned by the city from an outside firm in...
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Feb 5, 2013
02/13
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its record debts and deficits we would have a blueprint for spending. >> greta: it's the job and the law. i realize others before him going back to president johnson have ignored it, but the rest of it, we follow the law and do our job. why is this like it's okay to do it? there is no management when you don't meet these criteria? >> maybe because other than this show tonight, you look at a lot of pressure. it's a pattern, too. there are five other examples that i can point to that the president has not met a deadline. one is report how the sequester supposed to work, it's not done. they have missed most of their mid session reviews which is the midyear, mid-july deadline. they have also missed the chinese currency report and more recent the medicare trigger. you are supposed to have a proposal how to reform medicare. they ignored it. finally the regulatory agenda, two times a year, they put it off. finally issued two days before. >> greta: the house and senate signed a bill to suspend the debt ceiling until may. that is called suspending the debt ceiling, you raise the debt ceiling
its record debts and deficits we would have a blueprint for spending. >> greta: it's the job and the law. i realize others before him going back to president johnson have ignored it, but the rest of it, we follow the law and do our job. why is this like it's okay to do it? there is no management when you don't meet these criteria? >> maybe because other than this show tonight, you look at a lot of pressure. it's a pattern, too. there are five other examples that i can point to that...
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Feb 5, 2013
02/13
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change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative scenario that have not now been enacted in law or allowed to expire. so it includes the effect of this tax provisions are still scheduled to expire. it includes the effect of the sequestered, and it includes the effects of medicare payments to physicians. >> [inaudible] >> so i don't think there's a simple answer to the question about why more revenue will be collected. our income tax system left to its own devices will generally show over time and larger share of income being collected, impacts, because it would sometimes known as real bracket increase
change in deficits on the alternative fiscal scenario. it's on the right income on page 33 just above the memorandum lines. and you can see on the far right side that that set of policies would add $2.088 trillion of deficits over the decade, it would be about $450 billion of debt service, so the deficit as hell would be about two and a half trillion dollars more. -- then we shall in the basement of the alternative scenario includes all of the pieces essentially of our previous alternative...
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Feb 12, 2013
02/13
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so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare, medicaid, social security and interest on the debt. those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about $1 trillion. you all just heard what the deficit was last year. $1.3 trillion. which means we can do away with the entire federal government with the exception of medicare, medicaid and social security and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. so it's incumbent upon
so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare,...
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Feb 6, 2013
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the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to be paying a lot of money on that debt, and it's going to crowd out vital public services. and that's why we had to worry about the debt all along. and we didn't. now it's built up. now we're facing reality. i thought it was a little odd. the president said, well, we have to do something, but he didn't offer anything to do because the main part he played was two months ago, he said, let's make the tax cuts permanent, both sides, and now we see, well, you can't afford that. >> you talk about paul krugman -- >> that's what they
the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to...
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Feb 10, 2013
02/13
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FOXNEWSW
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the debt and deficit problem is also a problem of economic growth. we don't have too many economic problems that a few extra points of gdp growth wouldn't solve. the economy is sort of okay, improving. housing is coming up. the stock market is doing well and manufacturing is coming back to life. if we can get the economy moving in a positive direction that will help with the debt and deficit and other issues. i want to hear concrete proposals for creating jobs and expanding the economy. >> how do we get there? you've been in washington, you're an independent. the parties are like this. >> no kidding. >> did you expect it to be that bad? >> i didn't have any illusions but there are a few signs of hope. negotiations on the filibuster rule change. didn't get as much as i want but that's compromise. a bipartisan serious discussion on immigration. i don't think we expected that. let's hope there's positive movement. but yeah, the warfare is still a big part of the deal. >> it's on both sides. the critics accuse of president of my way or the highway yet jo
the debt and deficit problem is also a problem of economic growth. we don't have too many economic problems that a few extra points of gdp growth wouldn't solve. the economy is sort of okay, improving. housing is coming up. the stock market is doing well and manufacturing is coming back to life. if we can get the economy moving in a positive direction that will help with the debt and deficit and other issues. i want to hear concrete proposals for creating jobs and expanding the economy....
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. >> the fact is though, we can't finish the job of deficit reduction through spending cuts alone. we can't. we just -- >> yes, we can! yes, we can. [ light laughter ] ♪ >> god bless you, and god bless the united states of america. [ laughter ] >> jimmy: there you go. see, that's what i'm talking about right there. [ cheers and applause ] you guys, this weekend is the chinese new year, which will celebrate -- [ cheers ] which will celebrate the year of the snake. crazy that it's snake already. i'm still writing "dragon" on all my checks. [ laughter and applause ] ♪ >> steve: yee-ha! >> jimmy: check this out. last night, runners from around the world competed in the annual race to the top of the empire state building. yeah, but there's already a scandal brewing. it turns out, one of the competitors tested positive for elevator. [ laughter and applause ] that's what i heard. here's some local news. after -- [ laughter ] some local news. after passing a ban on large sugary sodas, mayor bloomberg is considering a ban on styrofoam cups. seriously? at this point i'm starting to think
. >> the fact is though, we can't finish the job of deficit reduction through spending cuts alone. we can't. we just -- >> yes, we can! yes, we can. [ light laughter ] ♪ >> god bless you, and god bless the united states of america. [ laughter ] >> jimmy: there you go. see, that's what i'm talking about right there. [ cheers and applause ] you guys, this weekend is the chinese new year, which will celebrate -- [ cheers ] which will celebrate the year of the snake. crazy...
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Feb 4, 2013
02/13
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when it comes to tackling the nation's deficit, president obama said sunday in an interview with cbs news there needs to be revenue involved. and it sounds like he might be interested in going after people like mitt romney. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. and we can do it in a gradual way so that it doesn't have a huge impact. and as i said, when you look at some of these deductions that certain folks are able to take advantage of, the average person can't take advantage of them. the average person doesn't have access to cayman island accounts. the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they've earned. so we just want to make sure that the whole system is fair. >> all right. steve, help me out here. i think the democrats are holding a losing hand if they come back and ask for more taxes. they talk about raising tax rates on anybody. but if we're talking about closing loopholes, carried interest, sort o
when it comes to tackling the nation's deficit, president obama said sunday in an interview with cbs news there needs to be revenue involved. and it sounds like he might be interested in going after people like mitt romney. >> there is no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. and we can do it in a gradual way so that it doesn't have a huge impact. and as i said, when you look at some of these deductions that certain...
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Feb 6, 2013
02/13
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congress must find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending would shrink by 7.9%. domestic spending by 5.3% and medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes. republicans want to stick with spending cuts only. a study by george mason university estimated that 448,000 jobs in d.c., maryland and virginia could be affected by automatic indiscriminate budget cuts. business leaders and local congressmen are concerned about the impact on our economy. >> and sequestration will hurt not only the defense side but the non-defense side. my committee funds the f.b.i. there will probably be furloughs at the f.b.i. there will be furloughs potentially at the national cancer institute, at nih. this thing has ramifications for defense and non-defense. >> reporter: the cuts were originally scheduled to kick in january 1st because congress couldn't grow on a broad package to reduce the deficit several times in 2011 and 2012 in excomping for republicans agreeing to
congress must find $85 billion in deficit reduction somewhere by march 1st. otherwise, pentagon spending would shrink by 7.9%. domestic spending by 5.3% and medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loopholes. republicans want to stick with spending cuts only. a study by george mason university estimated that 448,000 jobs in d.c., maryland and virginia could be affected by automatic indiscriminate budget cuts. business leaders and...
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Feb 6, 2013
02/13
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WBAL
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but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. local scout units will be able to decide on whether to leave gays to their ranks. and on the heels, the pentagon is announcing a policy shift. leon panetta is expected to expand some benefits to granting access to various spots on bases are said to be included. however, it remains droughtful that mental, dental, housing allowances would be offered under the new proposal. an extension of those benefits would require an
but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the...
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Feb 4, 2013
02/13
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the president told super bowl fans reducing the deficit will require more taxes. >> can we combine some smart spending cuts because there's still some waste in government, can we reform our health care programs in particular and can we close loopholes and productions that folks who are well connected and have a lot of accountants can take advantage of. there's no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. >> president also warned congress about the danger of alowing the sequester to go into effect. >> washington cannot continually operate under a cloud of crisis. that freezes up consumers, gets businesses worried. we can't afford the self-inflicted wounds. >> no another tweet david plouffe said message delivered to big audience on balanced budget, deficit reduction, economy growth. on abc, an unlikely name was invoked for direction. >> i think what we need to do is do some things mitt romney taungd abo talked about. he said there are tax loopholes that should be closed. there are efforts being made to only get rid of the s
the president told super bowl fans reducing the deficit will require more taxes. >> can we combine some smart spending cuts because there's still some waste in government, can we reform our health care programs in particular and can we close loopholes and productions that folks who are well connected and have a lot of accountants can take advantage of. there's no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. >> president...
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Feb 5, 2013
02/13
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so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the honor, but i'm only a chairman today. the gentleman is recognized. mr. hoyer: we wish you the best for the future. the chair: thank you. mr. van hollen, may i ask for how long he was recognized? mr. van hollen: i yield four minutes. the chair: the gentleman from maryland is recognized. mr. hoyer: i thank the gentleman for yielding. mr. price of georgia said what the american people want. what the american people don't want is games. this is a game. this is a sham. this is a shame. what the american people want is honest legisl
so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the way he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the...
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Feb 6, 2013
02/13
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
SFGTV2: San Francisco Government Television
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Feb 5, 2013
02/13
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by playing on the republican field of deficits and debts instead of joblessness or say we're all trying to compromise, you make people feel everyone is equally involved in a gridlock that has led to a point where congress has a lower popularity rating than the banks. that is a feat. 9%. it is dropping even though there are good people inside the congress. there is a progressive congress. they put out a people's budget. bernie sanders has exposed the fed giving out trillions of dollars in addition to the tarp bailout. >> barney frank has taken a hike. >> that is worth talking about. you see in this congress michele bachmann and michele bachmann one of these -- wannabe's. there are fights about redistricting. >> use of the one strength the president obama, his rhetorical skill, is not sufficient. >> it has not been used at the scale necessary in this time of crisis. america is in a crossroads. this is a moment comparable to coming out of the great depression. this was a moment coming out of the financial crisis when tectonic shifts are under way in this country. hope is not a policy. poli
by playing on the republican field of deficits and debts instead of joblessness or say we're all trying to compromise, you make people feel everyone is equally involved in a gridlock that has led to a point where congress has a lower popularity rating than the banks. that is a feat. 9%. it is dropping even though there are good people inside the congress. there is a progressive congress. they put out a people's budget. bernie sanders has exposed the fed giving out trillions of dollars in...
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Feb 8, 2013
02/13
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our deficit is a big problem. >> what about our taxation system? when i pick up my bible, you know he what i see? i see the fairest individual in the universe, god, and he's given us a system. it's called time. >> well, he didn't stop there because carson is the head of neurosurgery at johns hopkins. listen to his take on obama care. >> he's my solution. when the person is born, give them a birth certificate, an electronic card and a health savings account. when you die, you can pass it on to your family members so that when you're 85 years old and you've got six diseases you're not trying to spend up everything. you're happy to pass it on and there's nobody talking about death panels. >> well, rush limbaugh said republicans could learn a thing or two from the good doctor. >> he sets out a position based on our principles of individual responsibility and free market that is a logical solution that makes total sense to everybody who hears it. >> this man said it while obama's sitting there. this is the kind of thing the republican party should have
our deficit is a big problem. >> what about our taxation system? when i pick up my bible, you know he what i see? i see the fairest individual in the universe, god, and he's given us a system. it's called time. >> well, he didn't stop there because carson is the head of neurosurgery at johns hopkins. listen to his take on obama care. >> he's my solution. when the person is born, give them a birth certificate, an electronic card and a health savings account. when you die, you...
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Feb 7, 2013
02/13
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CSPAN
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some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the idea of a tax. a lot of republicans said, let's tax carbon and use the tax money to reduce other taxes, like corporate taxes. let's do something to move the incentives away from adding more greenhouse gases into the atmosphere. >> a democratic caller. >> good morning, c-span. the morning. that last caller, i am thankful for guys like you. i am appreciative. unfortunately, the message we are trying to get across is that global warming, how it affects the jet streams and the weather and how that intern causes climate change. the knuckle draggers you were ju
some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the...
SFGTV2: San Francisco Government Television
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Feb 12, 2013
02/13
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i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and understand and treat them. it's a small percentage. my goal is to develop better treatment so they can keep them off that trajectory towards life course persistent problems. >> are you saying that people that have the brain structure that you have identified will always be lacking in volitional control or impulse receive to the extent that they are criminals? do we have a subset of people that are criminals because of their brains? >> i should really differentiate psychopathy from criminality. there are a lot of reasons why individuals engage in different criminal activity. it's a very small percentage of p
i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and...
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Feb 12, 2013
02/13
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CNN
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why it produces things that are better for your family on taxes, on spending, education, on debt and deficit. this president has run into $16 trillion in debt, heading to $17 trillion, and a job rate that is abysmal. the president has to explain how he's going to turn that around. marco rubio is a great guy to explain why that message is going to work. >> thank you for coming on and talking to me. i appreciate it. >>> under arrest, chicago police have announced charges against two people in the murder of a teenaged girl who performed at the president's inauguration parade. hadi ya a penned elton was an innocent by stander. her paersons will be michelle obama's guests at the state of the union tonight. ted rowlands is out front on a case that's galvanized residents to action. >> hi, my name is hadiya. >> the murder of 15-year-old honor student hadiya pendleton is a case that people in chicago want solved. the high school sophomore who had just returned from performing as a majorette at the presidential inauguration was killed in this park after finishing a final exam, but getting witnesses to
why it produces things that are better for your family on taxes, on spending, education, on debt and deficit. this president has run into $16 trillion in debt, heading to $17 trillion, and a job rate that is abysmal. the president has to explain how he's going to turn that around. marco rubio is a great guy to explain why that message is going to work. >> thank you for coming on and talking to me. i appreciate it. >>> under arrest, chicago police have announced charges against...
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Feb 6, 2013
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our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and on middle income families. creating money out of thin air to fund the president's spending must stop. the first step is to stop the reckless spending by having the president present a plan to balance the budget. this is a simple request with no reasonable excuse for opposition. i support h.r. 444, the require plan act, to protect our seniors, the poor, and middle income families. i yield back. the chair: the gentleman yields back. the gentleman from maryland is recognized. mr. van hollen: madam chairman, again we have heard a number of the
our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and...
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Feb 9, 2013
02/13
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CNBC
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we got that trade deficit number narrowest in three years. >> good numbers from china. >> if we can believe them. i don't know. depends how you feel about the numbers. still the numbers were there. that was some after what the market was chewing on today. but a low volume day. >> a lot of talk about apple. we're going go after apple in a second. everyone is talking about apple and its excess cash and what's going to happen and this lawsuit from mine einhorn. >> $137 billion dollar of excess cash. that's a lot of cash. should they be returning it to shareholders? einhorn says give it back to us in the form of preferred shares. he's filed this lawsuit. i think it's interesting really that apple even responded. so often you don't heart company say anything when all of this buzz is going around. i don't know what are going to do. i don't know what the right thing is to do. but i know they should make the shareholders feel like it's worth holding that stock. >> i think there's going to be a lot of movement on that. many thanks to cnbc's courtney reagan who's going to stay with us. we have two sa
we got that trade deficit number narrowest in three years. >> good numbers from china. >> if we can believe them. i don't know. depends how you feel about the numbers. still the numbers were there. that was some after what the market was chewing on today. but a low volume day. >> a lot of talk about apple. we're going go after apple in a second. everyone is talking about apple and its excess cash and what's going to happen and this lawsuit from mine einhorn. >> $137...
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the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax and spend, it lives on and so does our massive debt. reality check, "varney & company" is about to begin. [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. >> first up this wednesday morning, gas prices, yes, they are still on the rise. national average for regular up more than a penny, now at 3.54. just in the past month the price of gas spiked about 25 cents a ga
the deficit. this year it will be below a trillion dollars, that's what the pundits focused on and ignored the grim reality. in fact, our debt is headed toward the worst levels in post war america. worst, the economy will show a masly 1.4% growth. unemployment rise to 8%, stay at very high levels for years, and 7 million people will lose their health care coverage under obamacare. that came within hours of president obama's call for more tax increases on the rich and put off spending cuts. tax...
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Feb 6, 2013
02/13
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it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal service. second to that, yes, all of us are using e-mail and paying our bills online. and therefore first class mail has dropped off a cliff. however, package delivery has increased dramatically because you and i are shopping online and all of those packages are sent to our homes. so that's been up 14% over two years. so in the view of many, this is the postal service trying to force the hand of congress. congress has had this on their agenda for years and has failed to act, even though the postal service year after year after year comes out a
it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal...
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Feb 7, 2013
02/13
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and i believe we're for fiscal discipline, managing down the debt and deficit for a reason because we don't want a debt crisis to implode this country and our economy because if you see interest rates jack up because all of a sudden our debt is unsustainable. that means families will have to pay more every month in their mortgage and eventually see taxes go up even further because we have to pay off more debt. >> greta: how do you get that message out to the american people? i realize you go on cable shows, but we go on every single cable show and reach a universe of 7 million people. how are you going to get that out to the american people? >> one thing we require the nate to do a budget the first time in four years and as you know, if they don't do a budget they don't get paid. all of a sudden, senator schumer and others are saying we're going to do a budget. great. now we can talk about their prescription of managing down the deficit and the debt and see what it is that they're calling for. we also passed a bill in the house today that required plan act and said that the president
and i believe we're for fiscal discipline, managing down the debt and deficit for a reason because we don't want a debt crisis to implode this country and our economy because if you see interest rates jack up because all of a sudden our debt is unsustainable. that means families will have to pay more every month in their mortgage and eventually see taxes go up even further because we have to pay off more debt. >> greta: how do you get that message out to the american people? i realize you...
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Feb 6, 2013
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congressional budget office that for the first time since president obama has been in office, we can see a deficit under $1 trillion. $884 billion is what they are suggesting. they think unemployment will go up through the next couple of years, but federal revenue, the amount of money coming into the government going up by 25%, in part, because of the fiscal cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you. >>> a major decision expected today from the boy scouts of america. national board members set to vote on whether to lift a decade's long band on gay leaders and scouts. the final day of a three-day meeting of officials. a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend that scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. if board members scrap that policy, they will be able to decide for themselves to admit gays to their ranks there. >>> on the heels of t
congressional budget office that for the first time since president obama has been in office, we can see a deficit under $1 trillion. $884 billion is what they are suggesting. they think unemployment will go up through the next couple of years, but federal revenue, the amount of money coming into the government going up by 25%, in part, because of the fiscal cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you....
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Feb 12, 2013
02/13
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. >> playing up the importance of a growing the economy and less emphasis on deficits and debts. >> that is what you can expect to hear from the president's speech tonight. the debt ceiling will be back in mid may. >> who is on the guest list tonight? of facesseeing a lot in the crowd including people from newtown, connecticut, first responders. you also have guests representing health care, military life and immigration. along with the apple ceo and mrs. obama will be accompanied by the parents of a teenager killed in chicago. >> hallie jackson, thank you. >> desperate times call for desperate measures. that is the message from mayor stephanie rawlings-blake. she is looking for new ways to bring in revenue including having city employees contribute to their own pension. >> baltimore's pension system for civilian workers is the only large system in maryland that does not require an employer contribution. that must change. >> the mayor wants to reduce the property-tax rate. >> who will be elected to follow the pope? kim dacey joins us live in north baltimore with more on the story. good m
. >> playing up the importance of a growing the economy and less emphasis on deficits and debts. >> that is what you can expect to hear from the president's speech tonight. the debt ceiling will be back in mid may. >> who is on the guest list tonight? of facesseeing a lot in the crowd including people from newtown, connecticut, first responders. you also have guests representing health care, military life and immigration. along with the apple ceo and mrs. obama will be...
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i think that everybody recognizes we have to reduce the deficit. the deficit is out of control. the only reason we've been able to sustain this level of deficit is because the fed prints money and buys 70%-75% of the country's debt. that can't continue. if you're going to address the issues -- you know, this peace meal, kicking the can down the road, a couple more months, a couple more months, people are sick of that. address entitlements. they are 60% of the budget. the president needs to lead on this with a budget with rational proposals, something to at least get a democrat to vote for it. the budgets so far don't get democrats on republicans' votes. we have to deal with the real problem here which is that we spend a whole lot more money than we bring in with 60% going to entitlements that do not survive if not revised. cheryl: you're a business owner, ran cko, close to insolvency, and you brought the company back. you know what you are talking about. how do you get job creation? more jobs in the country, more tax revenue coming into the government. it seems that whether it's
i think that everybody recognizes we have to reduce the deficit. the deficit is out of control. the only reason we've been able to sustain this level of deficit is because the fed prints money and buys 70%-75% of the country's debt. that can't continue. if you're going to address the issues -- you know, this peace meal, kicking the can down the road, a couple more months, a couple more months, people are sick of that. address entitlements. they are 60% of the budget. the president needs to lead...
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we are also told he has attention deficit disorder. psychologically, how is this going to affect the little boy over the long term? >> i think any ability in any trauma that happens to a child, whether they have a psychiatric or mental health problem or not is going to fall heavily on them. the biggest message we can send to this child by his mother and father is he is safe and he is protected because he didn't feel safe and he wasn't protected and he ended up in this situation. that's the biggest impact on a child, especially after something is resolved. luckily, this is successfully resolved. but safety and protection is key for him. >> and of course, we don't know at this point what happened? we don't know whether there was sexual abuse or physical abuse or what happened in the bunker. >> exactly. right. and i mean the tendency is going to be to swarm around him to get information, both to help him and to understand what went down, down under that ground. but the bottom line is, the next few days are critical for this boy to bond wi
we are also told he has attention deficit disorder. psychologically, how is this going to affect the little boy over the long term? >> i think any ability in any trauma that happens to a child, whether they have a psychiatric or mental health problem or not is going to fall heavily on them. the biggest message we can send to this child by his mother and father is he is safe and he is protected because he didn't feel safe and he wasn't protected and he ended up in this situation. that's...
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Feb 5, 2013
02/13
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and we had a debate whether we take a balanced approach to deficit reduction as you described. one that asks the wealthiest americans to pay a bit more while making sure we reduce spending and make responsible spending cuts without cutting the legs out from under the economy. and i'm sure mr. bernstein would agree that as the economist i heard when i was a member of the budget committee repeatedly say that you can't cut so much so fast because in a recovery that is already more fragile than we'd like to see, you want to make sure you don't slow or stall that recovery. that's what the republicans are risking. it's really -- you know, i wish and i know that americans across the country wish that there would just be a massive outbreak of responsibility in the republican conference so that we could bring them to the table, sit down, and work together to avoid massive spending cuts which they seem willing to allow to happen. >> a massive outbreak of responsibility. wouldn't that be a great occurrence? let me ask you, jared. you may agree, but senator mitch mcconnell clearly doesn't
and we had a debate whether we take a balanced approach to deficit reduction as you described. one that asks the wealthiest americans to pay a bit more while making sure we reduce spending and make responsible spending cuts without cutting the legs out from under the economy. and i'm sure mr. bernstein would agree that as the economist i heard when i was a member of the budget committee repeatedly say that you can't cut so much so fast because in a recovery that is already more fragile than...
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to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be finished before march 1st, and unfortunately that's the date when a series of harmful automatic cuts to job-creating investments and defense spend, also known as sequester, are scheduled to take effect. so, if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a
to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be...
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Feb 6, 2013
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they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top stories. steve? >> thank you, michelle. disney posting better than expected earnings and revenues after the bell. the company says it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks. ceo bob iegory was on cnbc's "closing bell." >> you had a lot of ins and outs. basically, the trendser good. we had strong results at our domestic parks. the bookings have been pretty solid. advertising was okay. and generally speaking, our business performed well. and our interactive media group was profitable for the quarter. that's the first time the group has been p
they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top...
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Feb 8, 2013
02/13
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we've been running deficits for years. the deficit has narrowed. china had excellent numbers as well. the bottom line is this, our fourth-quarter gdp, it was negative 0.1%. because of the positive trade data, it's going to be revised likely positive. we'll have positive fourth-quarter gdp. that's a plus for the stock market overall. we moved up today on the trade data news. sectors, it's 3 to 2 advancing -- maybe a little bit better. hmo stocks, very strong. molina had strong numbers. but the key story is all about these trade wars and currency wars as well. did you see what happened yesterday? we've got draghi versus japan. this is a big, big international battle right now. draghi talked down the euro. the euro had been strong against the yen and of course today the japanese finance minister came out and said, we're sorry, maybe the yen's gone a little too far. now he's got to go to the g-20 meeting in the next few days and explain why the yen has weakened so dramatically and hopefully people will be too angry with them. many people like the auto
we've been running deficits for years. the deficit has narrowed. china had excellent numbers as well. the bottom line is this, our fourth-quarter gdp, it was negative 0.1%. because of the positive trade data, it's going to be revised likely positive. we'll have positive fourth-quarter gdp. that's a plus for the stock market overall. we moved up today on the trade data news. sectors, it's 3 to 2 advancing -- maybe a little bit better. hmo stocks, very strong. molina had strong numbers. but the...
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Feb 11, 2013
02/13
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the point is in five, 10 years the deficits completely blow up, as mr. stewart point out since nobody went the other way, there's safety in numbers. when it all goes down the tube, my gosh, what a surprise. get everybody that covers politics to kick the tire. consider they may not know the outcome as intensely and as positively as those analysts that you depicted on apple. it just amazes me he is so correct on apple but many reporters that cover politics are so blinded by the notion that they're speeding down a highway and they have no idea there may be cars going the other way. back to you. >> rick santelli, thank you. apple is reportedly experimenting with wristwatches that have the function of a smartphone. that brings us to the squawk on the tweet. what can apple do to turn its function is a round? we have your responds next. i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient.
the point is in five, 10 years the deficits completely blow up, as mr. stewart point out since nobody went the other way, there's safety in numbers. when it all goes down the tube, my gosh, what a surprise. get everybody that covers politics to kick the tire. consider they may not know the outcome as intensely and as positively as those analysts that you depicted on apple. it just amazes me he is so correct on apple but many reporters that cover politics are so blinded by the notion that...